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Trump weighs diesel export ban and asks Europe to release reserves
The US exports about 1.2 million to 1.5 million barrels per day of diesel, and analysts warn any ban could add price pressure abroad.
President Donald Trump said he may ask European countries to release diesel reserves as he considers a ban on US diesel exports amid a global fuel shortage, with the goal of easing prices for voters ahead of the November elections.
BBC Business reports the remarks followed calls from US Treasury Secretary Scott Bessent urging Europe to ready and release supplies, arguing that US farmers, truckers, and businesses should not carry the burden as prices rise.
The US has also threatened to restrict diesel exports amid surging costs linked to the war in Iran, and the UK held talks with European partners on Thursday about a possible release of reserves in response to any ban.
BBC Business notes the US is a key diesel supplier, exporting between 1.2 million and 1.5 million barrels per day, while experts warn a restriction on shipments could further pressure diesel prices in other countries.